With the Europe/Gold Inflation Bonus&Safety 5 certificate, investors receive an annual interest rate consisting of two components: 0.7% annual fixed interest rate plus the annual inflation rate (annual rate of change of the HICP excl. tobacco for the Eurozone). Redemption at the end of the term (November 2026) depends on the performance of the EURO STOXX 50® Index and the gold price: the certificate is redeemed at 100% (equivalent to EUR 1,000 per nominal amount) provided that the two underlyings never decline by 51% or more of the starting value during the observation period.

If the underlyings touch or undercut the barrier of 49% of the respective starting value (51% safety buffer), redemption will be effected according to the performance of the worst performing underlying. The opportunity for yield is in any case limited to the annual interest rate.